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Insurance in Pakistan is regulated under the Insurance Ordinance, 2000. It is divided into three components: life insurance, general insurance and health insurance.The Government of Pakistan established the Department of Insurance in April 1948 as a department of the Ministry of Commerce; the aim of this department is to take care of affairs related to the insurance industry.
In 1992, the Government of Pakistan opened up life insurance to the private sector and EFU Life Assurance Ltd. was incorporated in 1992 as the first private sector life insurance company. EFU commenced writing group life insurance business in the same year, individual life business in 1994 and is today the largest life insurance company in the ...
The State Life Insurance Corporation of Pakistan (SLIC) (Urdu: اسٹیٹ لائف انشورنس), commonly known as State Life, is a Pakistani state-owned life insurance company based in Karachi. [2] [3] The State Life is headed by a chairman, currently Shoaib Javed Hussain. The chairman is assisted by four directors.
When choosing a life insurance company, search the website and look at the policy options. The best life insurance company for you may offer a combination of coverage options that fit your ...
Policy type: Term life insurance from a provider like Ladder is more commonly available without an exam than permanent life insurance policies. Occupation : Some low-risk occupations may be more ...
Voluntary life insurance is an optional group life insurance policy offered by select employers, usually at a discounted rate. It may be a beneficial option for people with chronic health ...
Pakistan Reinsurance Company Limited (PRCL) is a public sector company under the administrative control of the Ministry of Commerce is the sole reinsurance organization operating in Pakistan..Formerly called the Pakistan Insurance Corporation, Pakistan Reinsurance Company Limited was established in 1952. [9] PRCL's Role in Economic Development
Jubilee Insurance is a Pakistani general and life insurance company headquartered in Karachi. It is a subsidiary of Swiss for-profit organization Aga Khan Fund for Economic Development . [ 1 ] As of 2016 [update] , it was one of the largest insurance companies in Pakistan.